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The increase in spending on artillery upgrade programs i.e., increasing procurement and upgrade of MLRS systems is expected to drive the multiple launch rocket systems market for both MLRS and military systems manufacturers. The increasing prominence of MLRS in military’s artillery is expected to drive the MLRS systems market mainly in Europe and Asia Pacific regions.

The wheeled segment is estimated to dominate the MLRS market during the forecast period in North America

The wheeled segment in North America is expected to have the largest market share owing to the replacement of current fleet of M270 MLRS systems by high mobility, lightweight HIMARS systems. This could be attributed to the good cross-country mobility and speed provided by wheeled systems required for shoot & scoot operations.

The multiple launch rocket systems market is expected to witness the highest growth in Europe during the forecast period

The multiple launch rocket system market in Europe is projected to grow at the highest CAGR during the forecast period. North America accounted for the largest share of the multiple launch rocket systems market in 2016, and this trend is expected to continue throughout the forecast period. Increasing artillery modernization programs are expected to drive the MLRS systems market.

The multiple launch rocket systems market has been segmented by launch vehicle, caliber, range, pod capacity, and region. By launch vehicle, the market has been segmented into tracked and wheeled. By caliber, the multiple launch rocket systems market has been segmented into 70-180 mm and 180-300 mm caliber system. By range, the multiple launch rocket systems market has been segmented into 10 -100 km and 100-300 km. By pod capacity, the MLRS has been segmented into up to 16 and 16 to 40.

Reasons to buy the report:

From an insight perspective, this research report has focused on various levels of analyses - industry analysis (industry & technology trends), market-share analysis of top players, and company profiles. These together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the multiple launch rocket systems market, high-growth regions and countries, and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.

The report provides insights into the following pointers:

Market Penetration: Comprehensive information on the multiple launch rocket systems market and products offered by the top 12 players in the multiple launch rocket systems market.

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the multiple launch rocket systems market.

List of Figures:Figure 1 Research Process Flow Figure 2 Multiple Launch Rocket Systems Market: Research Design Figure 3 Breakdown of Primary Interviews: By Company, Designation, & Region Figure 4 Market Size Estimation Methodology: Bottom-Up Approach Figure 5 Market Size Estimation Methodology: Top-Down Approach Figure 6 Data Triangulation Figure 7 Wheeled Mlrs Segment to Dominate the Market During the Forecast Period Figure 8 The Market for Systems With a Caliber Range of 180-300 Mm to Account for the Largest Share in 2017 Figure 9 The Market for Systems With a Range of 100-300 Km is Expected to Witness Significant Growth During the Forecast Period Figure 10 The Market for Systems With a Pod Capacity of Up to 16 Barrels is Expected to Command the Largest Share in 2017 Figure 11 The Increasing Demand for Modernization of Military Artillery is Expected to Drive the Multiple Launch Rocket Systems Market During the Forecast Period Figure 12 Europe to Grow at the Highest CAGR During the Forecast Period Figure 13 Systems With Firing Range Up to 300 Km to Dominate the Market During the Forecast Period Figure 14 Europe to Witness the Highest CAGR During the Forecast Period Figure 15 Market Dynamics Figure 16 North America Accounted for the Largest Share of the Global Multiple Launch Rocket System Market in 2017 Figure 17 North America Regional Snapshot: the U.S. is Expected to Lead the Multiple Launch Rocket System Market During the Forecast Period Figure 18 Regional Snapshot: Russia is Expected to Lead the Multiple Launch Rocket System Market in Europe During the Forecast Period Figure 19 Regional Snapshot: South Korea to Lead the Asia-Pacific Multiple Launch Rocket System Market During the Forecast Period Figure 20 Multiple Launch Rocket Systems Market (Global) Competitive Leadership Mapping, 2017 Figure 21 Lockheed Martin Corporation: Company Snapshot Figure 22 Hanwha Corporation: Company Snapshot Figure 23 Bae Systems Plc: Company Snapshot Figure 25 L&T India Ltd.: Company Snapshot

Note: Product cover images may vary from those shown

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FEATURED COMPANIES

The multiple launch rocket systems market is projected to reach USD 797.4 Million by 2022, at a CAGR of 6.19% from 2017 to 2022. The growth of the market can be attributed to various technological developments taking place across the globe, including the development of the guided-multiple launch rocket systems by Lockheed Martin (US), among others.

The multiple launch rocket systems market has been segmented by launch vehicle, caliber, range, pod capacity, and region. Among launch vehicle types, the tracked MLRS segment is projected to grow at the highest CAGR during the forecast period; the caliber segment is projected to lead the multiple launch rocket systems market during the forecast period. Factors such as military artillery upgrade programs and new system acquisitions are expected to drive the market.

By range, the multiple launch rocket systems market has been segmented into 10-100 km and 100-300 km. The 100-300 km range MLRS segment is projected to lead the market during the forecast period owing to the increase in procurement and indigenous development of long range rocket launchers.

Based on caliber, the 180-300 mm MLRS system segment of the multiple launch rocket systems market is projected to grow at the highest CAGR during the forecast period. The growth of this segment market can be attributed to an increase in the number of long range multiple launch rocket systems across the globe and replacement of conventional systems with MLRS systems with guided ammunition.

North America, particularly the US, accounted for the largest share of the multiple launch rocket systems market in 2016, followed by Europe and Asia Pacific. The reasons for the dominance of the US is predominantly due to the increasing artillery modernization programs and shifting focus to high mobility, lightweight artillery systems.

The major challenge for MLRS manufacturers is the inaccuracy of the system. At present, accuracy for MLRS is enhanced by modern GPS/INS aided systems, but the desired accuracy is still not achievable.

Major players in the multiple launch rocket systems market are Lockheed Martin (US), Roketsan A.S. (Turkey), and NPO Splav (Russia). The manufacturers mostly adopted new product launches as their key growth strategy. Lockheed Martin (US) is the leading company in the multiple launch rocket systems market.